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Driving Sales Through Banking Shops

How Lessons From Retail Can Make Bank Branches More Successful

October 2, 2008

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Authors

  • By Vanessa Niemeyer, Ph.D.
  • with Benjamin Ensor,
  • Lauriane Camus

Why Read This Report

Banks have rediscovered their branch networks as a strategic sales channel and have renewed their focus on branch development. Innovative banks like Washington Mutual and Jyske Bank have taken retail stores as an inspiration and turned their branches into banking shops that offer a radically different customer experience. Channel strategists at other banks can learn from these pioneers' findings. They should focus on the elements from retail that help to drive sales and recognize that banking customers will need guidance to adopt a retail-like shopping behavior.

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Table of Contents

  • Bank Branches Are Undergoing A Renaissance
  • Retailers Lead The Way In Sales
  • Leading Banks Are Learning From Retailers
  • Banking Shops Have Turned A Retail-Like Customer Experience Into Sales Success
  • RECOMMENDATIONS

  • Banks That Want To Build Banking Shops Should Learn From Pioneers
  • Supplemental Material
  • Related Research Documents